# Finance Act 2003, Paragraph 7


Except as otherwise expressly provided, the value of any chargeable consideration for a land transaction, other than—
(a) money (whether in sterling or another currency), or
(b) debt as defined for the purposes of paragraph 8 (debt as consideration),
shall be taken to be its market value at the effective date of the transaction.

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Source: https://www.legislation.gov.uk/ukpga/2003/14/schedule/4/paragraph/7 (the official version)
Page: https://openlegislation.uk/finance-act-2003/schedule-4/paragraph-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.